We are USPAP (Uniform Standards of Professional Appraisal Practice)
compliant, competent and certified. Team members have
taken machinery & equipment appraisal courses through
recognized organizations including the American Society of
Appraisers and other international recognized organizations. Various team members hold certifications
from recognized professional organizations such as the
Certified Appraisers Guild of America. Team members have developed competency in the property
type they analyze & service provided. All reports are
certified
by an accredited individual.

The education
and
experience of team members exceeds the voluntary
"Appraiser Minimum Qualification Criteria" adopted by the Appraiser Qualifications Board (AQB) of The
Appraisal Foundation for each respective area of practice. Since
we are USPAP (Uniform Standards of Professional
Appraisal Practice) certified, reports are completed in
accordance with these guidelines. We are required to re-certify in USPAP content
on a periodic schedule.

Qualifications of Principal

The principal of Schreiner Valuation Resources
LLC is Bill Schreiner. Mr.
Schreiner has over
twenty-eight (28) years of diverse experience in the
appraisal, valuation, and consulting professions. His machinery &
equipment appraisal experience to date includes valuation of
entire plants and individual assets from numerous
industries. A brief listing of his qualifications are
noted below. A more detailed CV is available upon
request.

●
Certificate in Business Valuations (CertBV) from the
Association of Chartered Certified Accountants.

● Member
- Business Valuation Association.

● Business valuation
education includes course work completed thru the
Association of Chartered Certified Accountants, the National
Association of Certified Valuators & Analysts, the University of British Columbia,
and the New York Institute of Finance.

● Certified General Appraiser License from
the State of Indiana
Professional Licensing Agency.

● Management Certificate from Loyola University,
School of Business Administration, Chicago, Illinois.
● Over twenty-eight (28) years of diverse experience
in the appraisal, valuation, and consulting professions.

● Previously
held the position of Senior Appraiser in a regionally based
accounting & consulting firm.
● United States Marine Corps Veteran (Honorable
Discharge from Active Duty and Service-Connected

Disabled Veteran Rating from the Department of Veterans
Affairs).

Qualifications of
Key Associate

Mr.
Schreiner's key
associate in the commercial & industrial personal property
appraisal section of his practice includes Frederick Gulmire. Mr. Gulmire undertakes and assists in various types of
commercial & industrial personal property appraisal
assignments. A brief listing of his qualifications
are noted below. A more detailed CV is available upon
request.

Frederick Gulmire● Certified
Real Estate Appraiser License from the
State of Indiana Professional Licensing Agency.
● Auctioneer License from the State of Indiana
Professional Licensing Agency.

● Real
Estate Broker License from the State of Indiana
Professional Licensing Agency.

● ASCA Certified Member
Designation in the personal property discipline from the
Auctioneers Society of Certified Appraisers.

● Bachelor of Science Degree From Ball
State
University.

Qualifications of Other Associates

Additional associates located through-out the United States
are brought in on a case-by-case basis for specific
assignment requirements. These associates include; designated
machinery & equipment appraisers, designated personal
property appraisers, and field service & inventory specialists. Detailed CVs will be
provided on any other associates attached to a particular
assignment.

Client Confidentiality

Clients are always
concerned with the confidentiality of their records and
assignment results. As accredited appraisers and members of
various professional organizations, we are bound by the
confidentiality clause of the Uniform Standards of
Professional Appraisal Practice (USPAP). USPAP requires that
we maintain the confidentiality of all conversations,
documents provided, and the contents of reports,
subject to legal or administrative processes or proceedings.

Appraisal MethodologyIn the appraisal of commercial &
industrial personal property (machinery,
equipment & business assets) there are three (3) generally accepted approaches to
value (market, cost & income approaches). Two (2) of
which are widely utilized (market & cost), with the third
(income) being used in special circumstances.

The most widely used and accepted
approach is the market approach. This approach considers
prices recently paid (or currently asked) for similar items
with adjustments made to indicated market prices to reflect
certain conditions of the comparables in contrast to the
subject items. This approach is appropriately employed
when valuing assets which are commonly bought and sold in
arm's length transactions.

The second most widely accepted approach
is the cost approach. This approach is utilized when
valuing assets not commonly traded. In such situations,
the cost approach is generally the only reliable approach to
value. Under this approach, the cost to reproduce or
replace the assets in question is considered. From this
amount, an allowance is deducted for the total loss in value,
as of the effective date of valuation, due to any depreciation
or obsolescence present, whether arising from physical,
functional or economic causes.

The least utilized approach to value for
machinery & equipment is the income approach. This
approach is applicable when an income & expense stream can be
identified (and isolated) for the subject asset or grouping of
assets. This approach considers the value of an asset or
grouping of assets in relation to present value of the future
economic benefits derived from ownership. This is
normally measured by capitalizing the future benefits into an
indication of value.

Depending upon the situation surrounding
a valuation and the data available. My associates and I will help you
sort through this methodology to a clear understanding of the
value to be estimated and the approaches to be applied.

The types of data utilized in the
performance of machinery & equipment and business personal
property appraisals vary widely
depending upon the specific appraisal problem. These
sources include the following.

● Prices recently paid for similar
items.

● Current listing prices for similar
items.

● Recent auction results.

● Published price guides.

● Catalog prices.

● Dealer quotes.

We subscribe to numerous print media and
online databases for new and used pricing information. Resources for this data are
always expanding, given the reach of the information age.
This all goes together to form a solid basket of market
information to form the basis of estimated values. Each
written reports will list the specific references for
the engagement that were relied upon for pricing information.

There are two (2) basic types of
appraisals performed for machinery & equipment. These
include "desktop appraisals" and "field appraisals".

A "desktop appraisal" does not require a
physical inspection of the subject assets. In this type
of analysis the appraiser relies
upon listing and illustrative information supplied by the
client to identify the assets to be appraised. The
appraisal analysis and report are performed "at a distance"
from the appraiser's office.

A "field appraisal" involves an inspection
of the subject assets. In this type of analysis the
appraisers gathers data in the field
and reconciles it with the client supplied information.
This type of analysis is much more detailed in scope, given
the field inspection component.

There are two (2) basic types of written appraisal reports
produced for machinery & equipment appraisal assignments.
These include the following; 1) the "restricted appraisal
report" narrative, 2) the "appraisal report" narrative.

A
"restricted appraisal report" narrative presents
"statements & basic illustrations" relative to the data,
reasoning, and analyses that were used in the appraisal
process to develop the opinion of value. Supporting
documentation concerning the data, reasoning, and analyses
are typically enclosed within the file for the assignment.
This report is suitable for "internal uses only" by the
named client. It is not suitable for intended uses where
third party users may need to review the report.

An
"appraisal report" narrative presents "summary discussions &
illustrations" of the data, reasoning, and analyses that
were used in the appraisal process to develop the opinion of
value. Supporting documentation concerning the data,
reasoning, and analyses are typically enclosed within the
addenda of the report (and more fully documented in the the
file for the assignment). This report is suitable for a
number of intended uses and is appropriate when third party
users may need to review the report.

Fees & TimingTypical fees for assignments can range
widely dependent upon the scope of the analysis and type of
report agreed upon with the client. An indication of
typical fee ranges in noted as follows.

Timing for completion of assignments can
range from a few days to a month, dependent upon the size &
complexity of the engagement. A solid fee
& timing quote can be provided with some basic information about the appraisal
assignment and asset pool to be valued.

Disabled American Veteran Owned -
Schreiner Valuation Resources (SVR) is a Disabled American Veteran
owned business.
Bill Schreiner, who owns 100% of Schreiner Valuation
Resources is; 1) an Honorably Discharged Veteran of
the United States Marine Corps, 2) has a Service Connected
Disability rating from the Department of Veterans Affairs
(VA), 3) is a member of the Disabled American Veterans (DAV)
organization, and 4) is a member of the National Veteran
Owned Business Association (NaVOBA).